The New Zealand Joinery Manufacturers’ Federation (Master Joiners) announce the launch of a charitable trust, the investment proceeds from which will be used to assist in the training and development of all within the NZ joinery industry and inform the public in general.
The recent Government moves to reorganise trade training organisations saw the Joinery Industry Training Organisation (JITO) merge with the Building Construction
Industry Training Organisation (BCITO). In winding up JITO had some residual cash which has been apportioned to the industries involved. Master Joiners were asked to administer the portion of the funds applicable to timber joinery and have decided to invest the money in a Charitable Trust, The Joinery Training Trust (JTT), for the benefit of the industry.
NZJMF have created a company The Joinery Training Trust Ltd as the sole trustee of the Charitable Trust. The Directors are Liam Wackrow, President of Master Joiners; Ken Monk a long time highly respected industry advocate and Past Chairman of JITO; and Kevyn Moore an experienced independent business consultant. The Trust Secretary is Corinne Moore, Executive Officer of Master Joiners.
The trust company have appointed John Sumner of Sumner Ryan, Napier, as
Authorised Financial Adviser. John Sumner is a recognised and respected financial planner and investment adviser. John is a Certified Financial Planner.
All investments are to be handled through the Aegis custodial investment platform.
There are key benefits to investing via the Aegis platform.
This is an electronic administration system with Investment Custodial Services (ICSL) as Custodian. The Aegis system, with ICSL as custodian, administers more than $7billion of funds in over 20,000 portfolios for selected investment professionals.
The Joinery Training Trust (JTT) will not in any way affect the training of apprentices carried out by BCITO.
However the JTT logo colours recognise both the historic link to JITO and the link to the future with BCITO.
The purposes of the charitable trust are:
- to provide for education and training of joiners in particular and of the public in general;
- to develop and deliver coordinated services with other agencies (including government) in support of Purpose (a);
- to undertake any other activities which are Charitable under the Charitable Trusts Act 1957 or any Act in substitution thereafter should purposes a) and b) become redundant.
The directors of the Trust have said:
“Master Joiners believed that the industry will get a greater return from investing the money rather than spending the capital on a one off project.
In this regard we are looking for new and exciting ideas from all within the joinery industry.
This is a charitable Trust, so every dollar will receive maximum value.”
The Joinery Training Trust is also open to receive further capital donations to be added to the investment portfolio.